National Community Investment Fund
National Community Investment Fund (NCIF; www.ncif.org) is a non-profit fund set up in 1996 to increase access to responsible financial products and services in underserved communities. Total assets under management at NCIF are around $170 million including $151 million of NMTC allocations outstanding. It has recently received an additional $65 million in NMTC allocation awards.
NCIF achieves its mission via three complementary business lines:
1. Investing: We support institutions with equity and deposit investments. NCIF has invested in the private capital of 57 financial institutions since inception and has current investments in 17 banks, all of which are CDFI/MDI Banks, making NCIF the largest investor in the mission-oriented banking industry. NCIF is evaluating a new investment fund to facilitate organic and acquisitive growth, refinance TARP (CDCI) stock and/or provide subordinate debt to the highest performing banks.
2. Lending: We channel funds into low-income communities using the New Markets Tax Credit (NMTC) program to finance small businesses and real estate development. NCIF is also examining expansion into small business finance in conjunction with our network of banks.
3. Research and Metrics: NCIF pioneered the use of Social Performance Metrics (see www.bankimpact.org and BankImpact maps) for measuring the impact and “telling the story” of mission-oriented banks, and publishes research on the industry and its impact. Research forms a foundation and a competitive advantage for NCIF’s other lines of businesses. NCIF runs an informal network of investee and other banks in the interest of strengthening the mission-oriented banking industry and supporting the flow of capital into low- and moderate-income communities. We enable peer-networking and help strengthen the sector via our Development Banking Conference.